Madison Square Garden Sports

MSGS · NYSE

$413.41+$13.41 (+3.35%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $400.00

MSGS analyst rating

BuyConsensus of 7 analysts over the last 12 months. 71% rate it a buy.

Strong buy0
Buy5
Hold2
Underperform0
Sell0

12-month price target · 9 analysts

Average $488.63 (+18.2% upside)

Low: $419.15
Now: $413.41
High: $613.20

Upgrades and downgrades

The latest rating actions, newest first

MSGS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Aug 14, 2026	Maintains	Overweight	$450.00 → $485.00	69%
Susquehanna	Aug 14, 2026	Maintains	Positive	$430.00 → $477.00	50%
Guggenheim	Aug 14, 2026	Maintains	Buy	$522.00 → $584.00	45%
Guggenheim	Jul 23, 2026	Maintains	Buy	$470.00 → $522.00	45%
JP Morgan	Jul 21, 2026	Maintains	Overweight	$400.00 → $450.00	69%
Susquehanna	Jun 23, 2026	Maintains	Positive	$429.00 → $430.00	50%
Guggenheim	Jun 3, 2026	Maintains	Buy	$422.00 → $470.00	45%
Susquehanna	May 28, 2026	Maintains	Positive	$404.00 → $429.00	50%
Seaport Global	May 27, 2026	Maintains	Buy	$430.00 → $435.00	63%
Guggenheim	May 15, 2026	Maintains	Buy	$401.00 → $422.00	45%

The case for and against

Updated Oct 14, 2026

Bull case

Madison Square Garden is supported by exceptional on-court momentum, with the Knicks’ historic championship run and first NBA Finals appearance since 1999 driving F4Q revenue to $279mm versus a $246mm estimate and AOI to $40mm versus $31mm forecast. The outlook is further strengthened by the progressing spin-off of the Knicks and Rangers, which management sees as an initial step to unlock sum-of-the-parts value, alongside potential upside from NBA expansion in Las Vegas and Seattle that could yield $450mm-$700mm for the Knicks. Third-party valuations for the Knicks and Rangers remain materially above where MSGS shares trade, reinforcing the view that the company’s premier assets in the largest U.S. media market are undervalued.

Bear case

Madison Square Garden is facing a weak fundamental setup because its outlook is tied heavily to the on-court and on-ice success of the Knicks and Rangers, and consecutive unsuccessful seasons would likely pressure fan engagement, media interest, and revenue quality. Rising player costs and changes in the NBA luxury tax add operating uncertainty and could compress margins, especially if management must spend more to remain competitive without a corresponding uplift in performance. In addition, a slower-than-expected return of live sports attendance and concentrated voting power create governance and demand-side risks that limit flexibility and heighten downside.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.